Monit Blog

How real-time analytics helped bankers navigate the recent market turmoil

New technology allowed bankers to prioritize outreach and messaging to business clients while providing valuable insight into actions their SMB clients were actually making in March 2023

March 29, 2023

During the recent bank failure fallout, bankers and their business customers around the country faced tremendous uncertainty. While there were several dimensions to ensuing chaos, the pressing question for most bankers was: “how will this affect my customers?” Many pondered whether their customers would flee to the large SIBs, others endeavored to provide surety to new customers leaving the affected banks. As a team of former bankers, Monit acted quickly to assist our bank partners and their SMB clients navigate concerns around deposits and related risk management. Here are several actions we took:

  1. Immediately identified businesses with accounts at affected institutions. On the morning of March 8, we notified bank partners as to which of their customers maintained balances at the banks in question:
  • A detailed, real-time understanding of which customers were impacted by the unfolding news was invaluable to our bank partners as they sought to tailor messaging and provide guidance during a time of a great uncertainty.
  1. Worked with bank partners to identify customers who may benefit from an insured sweep account and deploy relevant messaging:
  • With widespread uncertainty around deposits and deposit insurance, our ability to target customers with highly relevant educational messages proved extremely effective in supporting bankers as trusted advisors.
  1. Shared relevant analytics with our bank partners. A key trend over the last several weeks has been “money in motion” - here are two case studies of how business owners reacted. The first shows a business that load-balanced deposits away from one of the affected banks to a Monit-partner bank:
  • It’s worth noting, this business’s average combined daily balance over the period was ~$500k, so they did not shift all cash from the Affected Bank and even maintained some level of uninsured deposits at that bank.
  • The second case study highlights how one company shifted balances from a regional bank to two SIBs, and kept all balances at/below the $250k insured level at each bank:

(Note: it is a coincidence that both companies moved money on the same day)

Bankers won’t soon forget the recent bank failures and reverberations through the industry, but having access to real-time portfolio data to aid communication and has been invaluable to our partner banks.

For details on how the Monit team can help banks navigate market disruptions and accelerate growth in your Business Banking segment, please reach out to!

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